CO-OP Intros Online Check Management Solution

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Seeking to help its member credit unions properly deal with check-loss recovery and prevention, CO-OP Network has unveiled "Check Management Solutions," which it says is the only online product of its kind that provides users with a comprehensive resource to reduce and prevent losses related to check handling.

"Dealing with check-related losses can be a time-consuming, monetary drain on all financial institutions," said CO-OP Network CEO Robert Rose. "Resolving a 'bad check' situation can often involve processes and consultation that, in some cases, cost more than the original item in question.

CO-OP Network has partnered with Ingeniux, a provider of XML-based Web content, and attorneys specializing in check training, business analysis and process improvement to form ResolverGroup LLC.

"The result of this partnership is a Web-based product that interactively leads credit unions through an online interview process to identify their particular check issue," the company said. " Once [the problem is] identified, Check Management Solutions provides the proper information, procedures, forms and letters to resolve the user's specific problem. The product also comes equipped with built-in instruction tutorials and reference materials to train new users."

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